“I think the only thing I would say at this point, is the way that we're thinking about the geography splits, is we're not assuming that economic conditions in the international markets in particular get better. It assumes a status quo, relative to where we are today.”

In context

“uestion will come from the line of Alex Straton with Morgan Stanley. Please go ahead. Alex Straton: Perfect. Thanks for taking the question. Just a couple from me. On the front half '25 revenue guidance down those single-digits, can you give us any color on how you're thinking about it by geography or channel? And then, just bigger picture on this kind of wholesale reentering, are you having any trouble kind of rebuilding the muscle there, facing any difficulty as you reenter? Has NIKE's criteria changed at all in terms of how you think about the right partners or distribution going forward? Thanks a lot. Matthew Friend: Okay. John, why don't I take the first part and then I'll start the second one John Donahoe: Okay. Matthew Friend: If you want to jump in on that and go for it. So, Alex, I think the only thing I would say at this point, is the way that we're thinking about the geography splits, is we're not assuming that economic conditions in the international markets in particular get better. It assumes a status quo, relative to where we are today. And next quarter, I'll provide more tangible insights into not only the first half, but our full year growth over fiscal '25. On the wholesale side, what I would say is that I think the biggest thing to take away, is that we don't like the way our brand is showing up in wholesale. And we own that. And we need to focus, on elevating the experience for consumers, when they come into interaction with our brand. If you segment our marketplace by dimension and by, where we sell our units, our seasonal units on a full price basis. Our wholesale partners represent three quarters of the market, from a unit perspective. And so, the importance of being able to elevate, and to position our brand correctly and to tell stories about the products that, we're bringing to market in that environment, is a”